RIOT trade ideas
Gonna start a RIOT?If BTCUSD gets it's legs for another run to all time highs, this one should also fill out to new highs.
Look for the 200% extension into the $188 USD region.
Trade at your own risk, continue to move stops up
as the trade progresses.
$RIOT will be watching closely as this approaches the $35 area. $RIOT will be watching closely as this approaches the $35 area. Possible big move incoming
Shorting opportunity next weekRiot entered a bearish trend on April 14 after breaking out of a symmetrical triangle and doesn't look like it's going to break out of this trend next week. There's hard resistance at 26.95$. The last 2 bars are bearish with top wicks and the moving averages crossed over. Sure the RSI is oversold but with 3 failed pushes to the channel resistance and 4 failed pushes to the $26.95 resistance i see this possibly hitting 15$.
My strategy: ATM Put
Entry: $22.50
Stop Loss: $23.30
TP: $20 (I may just trail it depending on bar formation and where it is in the channel)
This isn't financial advice just my opinion
RIOT short term target 25 early next week; medium term 18-22Chart looks almost as terrible as the BTCUSD chart (see reference below) with an intraday H&S formation. Confirmation of this pattern would stick us around the 25 level. With the 200 day offering support around 22-23, and having tested it for a week previously, it seems probable we could descend through it in the next week or two. I would see 18 as the medium term critical support if the 200 day fails.
The optimistic may envision a falling wedge here, but the volume pattern does not support this hypothesis.
Note that also if we should find the path to 25, this could actually form an even larger head-and-shoudlers (shoulder 25, head 29, shoulder 25) - with a downside projection to 21.
RIOT Swing Trade 5/27/2021Look at day chart and week chart, consolidation on the 200 SMA for the day chart and major break out above 9 SMA. Bearish doji and morning star on week chart, also a break in the 27.50 resistance. Price is going to be heavily based on the price of BTC. BTC broke 9 SMA on the daily and nearing break on the 200 SMA, with a MACD flip and a RSI coming back from 30. Double bottom on BTC with higher lows, broke 40k resistance. Great trade! This is not financial advice, I am not advocating the buying or selling of RIOT stock.
RIOT Blockchain Inc. Bearish Bat This price action is from May 12th - May 26th. This is a retracement price action off a Bearish Bat.
This is not financial advice, only for educational purposes.
RIOT bitcoin stock long.Riot went down a lot, and now supporting on the 200 ma, making some kind of bottom with a reversal pattern.
MACD looking also for reversal.
I am long with a close stop loss just below the 200 ma.
RIOTShould see $18 minimum below the blue line imo. Yes I think this is bearish for cryptos overall at this moment.
STILL BEARISH SHORT $RIOTI initially had some puts on RIOT because it was rejecting off the 200-EMA on the daily chart, which is usually a bearish indicator. I sold my puts at the beginning of the week for decent profits, but I started selling calls on riot instead and its paid a lot more. I think RIOT can go as low as $20, which was my original target, a breakdown of $20 could result in RIOT dropping to $15.
We Have Not Reached the Bottom YetThough cryptocurrency as a whole and its related stocks like MARA and RIOT have been declining by almost 11-15% a day recently, the bottom has not yet been found. Farther we dive, searching towards the end of May for low levels with more support.
As you can see, there is strong resistance ahead with the red line marking each one in time.
When a stock is this bearish, it is necessary to find a real bottom, the lowest absolute price and consolidation before an uptrend, before ever investing in it again. If I was holding, I'd keep holding.
As it is, I'm not yet ready to buy this stock. I'd like to see it fall further, to pre-hype and inflated levels.
The new price target has fallen from $95 to $55. That's like a 50% cut! This could go down to $15...
Good to take into consideration for the time being.
Best of luck and loving peace to all.
RIOT BUY/LONG BIG OPPORTUNITY! 15 to 97 by end 2021! TICKER CODE: RIOT
Company Name: Riot Blockchain, Inc.
Industry: Technology | Software - Application | USA
Position Proposed: BUY
Technical Analysis
1. Flag Pattern (Forming)
2. Fibonacci Retracement at 0.786 ( Silver Zone)
3. 1st Partial Take Profit will be at Fibonacci Expansion Safe Take Profit, Flagpole Length and somewhere near Key Structure Level (Very likely for price rejection/Pullback)
4. 2nd Partial Take Profit would be somewhere near the Next Key Structure Level (The Market will very likely reach this point before having a major rejection again)
Entry: NOW READY (15.00-26.00) - The Market could fall below 26.00 again but very unlikely
1st Partial Take Profit: 97.00 (October - End 2021)
2nd Partial Take Profit: 2.95 (End 2021)
3rd Take Profi: 3.75 (Mid-End 2022)
Note that in the Monthly chart timeframe the market is creating a large inverted Head & Shoulders, as such I will still hold some of this stock on hand. Should the market break beyond 145, the next take profit will be at roughly 200-250 price range.
$RIOT, weekly Put option contract.I like the setup for the downside on RIOT, bought a put that expires this week. let's see if it plays out
$RIOTOn Friday, RIOT rejected off of the 200-EMA which is usually a bearish signal. MACD also looks to be in bearish momentum as well.
If riot breaks below $20 then I think it could go as low as $15 until buyers step in. I swung puts over the weekend and will determine what I want to do with my position once the market opens tomorrow.
With cryptocurrency selling off like crazy over the weekend and BTC dropping roughly 25% over the last 4 days, this will also negatively effect the prices of $RIOT and $MARA.
Trade Idea: RIOT June 18th 17 or August 20th 15 Short PutRIOT announces earnings on Monday, so I'm not keen on stepping in front of what is likely to be a moving bus. However, I may consider something post-earnings and wanted to price things out here ahead of time to give me some idea as to where I might want to set up up my tent and what that might be paying. Unfortunately, the weeklies aren't that great for liquidity, and there's no July monthly at the moment, so would either have to trade June (33 days) or August (96 days). So, like, which one?
June implied is at a whopping 185.3% (no doubt due to earnings); August at 120.7%.
The June 18th 14 delta 17 strike is paying 1.23 at the mid, 7.8% ROC at max, 86.3% annualized; the August 20th 13 delta 15, 1.88, 14.3% at max, 54.4% annualized. I'm using the same approximate delta for both expiries to kind of compare "apples to apples."
Naturally, there are trade-off's. The shorter duration, similarly delta'd June 17 pays more on an annualized basis, but it's closer to at the money. Conversely, the August 20th 15 pays less on an annualized basis, but is farther away from current price, so gives you more room to be wrong, as well as more premium to potentially take off at 50% max -- 50% max of 1.23 is .61; 50% max of 1.88 is .94.
Additionally, the August setup has a smaller buying power effect versus the June: 13.12 versus June's 15.77 (cash secured). On margin, the difference will be smaller with a buying power effect for the 17 being around 3.40; the 15, 3.00 even.
For me, it boils down to answering the question: "Am I comfortable with acquiring it at 17 or more comfortable at acquiring it at 15?" To me, the answer is "lower," and so am mostly likely to go with the August setup. Naturally, this will all be moot if it takes off like a rocket post-earnings, in which case I won't put on a trade.
RIOT getting oversold on bull wedge, but it's still toast!So RIOT has been a hugely fun stock to trade, and with my 42k/30k BTC projection, it is easy to see why.
Today RIOT reported an underwhelming 1771 BTC has been mined by their operation, with a 'today market value' of about 100m. And they are maybe going to add some capacity if semiconductor shortages and bitmain are able to deliver more. Sporting a market cap of 2.5B today, this is quite a premium for a weak bitcoin generation operation. If you are also thinking bitcoin struggles in the short term, the future value is even lower. Plus, bitcoin adjusts difficulty every ten days, so if others are adding hardware, it is possible the expected gains from additional hardware may be cut somewhat. Of course, the opposite of all these things could also happen - and even if they did, this thing is still way, way too expensive! I would expect a market cap around the 500m range, or about 1/5 of where it trades today if my predictions are true, and if I am exactly wrong and things double instead of halve, perhaps you could get to a 1B value, implying a 60% premium today.
Technically, it looks like we might find support in this ~~30 zone - including from a bull wedge formation. This would imply a bounce toward thick green uptrend line - call it 35-37, but frankly I don't see any catalyst to push through it except a massive BTC rally. My short term (call it June-ish) is 20-25 with a longer term September target range of 10-17.
Very disturbingly, the small mini rally on BTC from under 50k to 58k over the past few weeks saw RIOT's price continue to decline - exactly not what one would expect! There is a clear descending triangle forming (blue lines), weakening RSI, MACD - none of the things you'd want to see (weekly MACD looks atrocious). This wedge might get you a chance to get out and get short, if you're not already. GL!
Running RIOT, potential 10x incomingAs you can see utilizing Elliott and some indicators, RIOT is getting ready to potentially be a great buy. The RSI is oversold greatly, about to nail support, and the fibs line up great. There is always a potential to be wrong, so manaeg risk appropriately.
